Stryker Co. (NYSE:SYK) Shares Acquired by Tompkins Financial Corp

Tompkins Financial Corp boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,505 shares of the medical technology company’s stock after purchasing an additional 602 shares during the quarter. Tompkins Financial Corp’s holdings in Stryker were worth $6,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. FMR LLC increased its position in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after purchasing an additional 165,490 shares during the last quarter. Clearbridge Investments LLC grew its stake in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC bought a new stake in Stryker in the third quarter valued at about $762,798,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Finally, Truist Financial boosted their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Price Performance

Shares of NYSE SYK opened at $381.32 on Friday. The stock has a market cap of $145.36 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.51 and a beta of 0.95. The firm’s 50-day simple moving average is $375.12 and its 200 day simple moving average is $358.32. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business posted $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.